Deputy Prime Minister Trinh Dinh Dung asked the Viet Nam National Coal and Minerals Group (Vinacomin) to focus on labour and environmental safety as it develops a specialised management model. He spoke at the conference held in Ha Noi on Tuesday to sum up Vinacomin’s operations in 2017 and launch tasks for 2018. “The group should continue to develop drastic solutions to ensure labour safety. It is also required to ensure environmental protection and consider it as a top requirement in production,” he said. Dung hailed Vinacomin’s contributions to the country’s development in 2017. He asked the group to strengthen discipline in exploitation and preventing trade fraud. He also highlighted the group’s shortcomings in exploiting unsuitable coals, which resulted in large inventory without meeting customers’ requirements. The application of science and technology in the exploitation and processing of the group’s main products has been undertaken slowly. Some investment projects have been delayed or ineffective, causing losses in State capital. The deputy PM said this year would determine the country’s success in completing the five-year socio-economic development plan in the 2016-20 period, creating heavy pressure for the coal and minerals sector. Vinacomin was also asked to enhance the mobilisation of social resources to attract investment into projects to upgrade current mines to increase coal output for the economy. Vinacomin should focus on restructuring its investments to create highly competitive products. This would help the group improve productivity, quality and effectiveness. It should also enhance its relationship with localities and partners both… [Read full story]

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The Vietnam Coal and Mineral Industries Group (Vinacomin) has recently sent documents to relevant agencies repeatedly, proposing to lower the coal export tariff. The agencies still keep silent, while experts have voiced their disagreement. Vinacomin proposal to cut export tariff faces strong opposition Vinacomin moaning about difficulties 'Thoi bao Kinh te Vietnam' several days ago reported that in a document sent to the Prime Minister in mid July 2012, Vinacomin proposed to lower the export tariff from 20 percent to 10 percent. They reasoned that the world’s coal price decreases and the difficult production of the group, which has led…... [read more]

US stocks closed modestly higher on Wednesday as traders awaited developments on a controversial tax-cuts deal that is seen key to the economic recovery. The Dow Jones Industrial Average advanced 13.32 points (0.12 per cent) to close at 11,372.48, while the S&P 500 index, a broader measure of the market, gained 4.53 points (0.37 per cent) to 1,228.28. The tech-rich Nasdaq climbed 10.67 points (0.41 per cent) to 2,609.16. "The stock market is in neutral... as bonds fell around the world and the dollar strengthened on expectations the US tax-cut accord will help spur economic growth," said Scott Marcouiller of…... [read more]

Vietnam's telecoms sector posted revenues of VND36.51 trillion (US$2.3 billion) last year, a rise of 9.5 percent from 2004, state media said on Tuesday. The industry, which saw revenues rise 40 percent between 2003 and 2004, aimed for an expansion of 15 percent this year to $2.64 billion, the Vietnam Economic Times newspaper quoted an Planning and Investment Ministry projection as saying. Vietnam had around 15.6 million telephones at the end of last year, up 51 percent from a year earlier, more than half of them mobile phones. The competition sparked by new service providers such as the military-run Viettel…... [read more]

FDI firms less optimistic despite revenue rise By Tu Hoang - The Saigon Times Daily HANOI – Foreign direct investment (FDI) enterprises have become less optimistic about their business outlook in Vietnam though their revenues still continue growing, according to a survey of 1,970 foreign-invested firms. The survey, which provides inputs for the provincial competitiveness index (PCI) 2011, was conducted among businesses operating in five sectors namely manufacturing, construction, services, agriculture and mining. Jim Winkler, project director of USAID/VNCI, the sponsor of the PCI 2011 report, said the revenue of FDI enterprises averaged out at US$1.3 million last year, surging…... [read more]

NDO - Hanoi has posted a total budget revenue of nearly VND208 trillion (US$9.15 billion) since the beginning of this year, equivalent to 101.4% of the year's estimate and up 15.8% over the same period in 2016. The statistics were announced at a meeting of the municipal Party Committee, held on November 19, in the presence of Secretary of Hanoi municipal Party Committee Hoang Trung Hai.The city's economy was reported to grow steadily at 7.3%, with the poverty rate being reduced to just 1.71% in 2017. Hanoi also continued to take the lead in a number of areas such as…... [read more]